Home > Shares & Lottery > Unclaimed Stock Market Funds

Unclaimed Stock Market Funds

By: Chris Nickson - Updated: 1 Jun 2013 | comments*Discuss
 
Unclaimed Funds Unclaimed Assets

Market funds generally refer to the kind of mutual funds that are run by different investment companies, rather than general, run of the mill stocks and shares. Investments in those funds become lost for a number of reasons. The fund itself might change names (which does tend to happen on a fairly regular basis if they under-perform) or be taken over by another company, and in the fall out, clients might not be informed (they might have moved and not give the new address, for example), or lose track of the fund.

There are two basic kinds of trusts, unit trusts or OEICs, and investment trusts, and they’re separately administered by different trade bodies.

A unit trust (or mutual fund as it’s called in the US) brings together many small investors to create a much larger, more powerful, and more secure investment. A unit trust, run by a fund manager, can, for example, take £1,000 from many investors to create a potent force in the market, and many funds specialise in different markets.

These days, though, there are more open-ended investment companies (OEIC) than unit trusts. With an OEIC there’s more flexibility, and the size of the fund can vary.

An investment trust can be a little harder to define and pin down. Essentially it’s a fund that exists to make money through its investments in other companies. An investment trust will be listed on the stock exchange, just like other companies, but it’s what’s termed a closed-end fund.

Tracing a Fund

If you’re attempting to hunt down a lost or forgotten investment, the big problem will be if your fund has changed it name, and remember, it could actually have undergone several changes and ownership over the years, making a trace that much harder still.

Obviously, you’ll need a certain amount of information in order to begin a search and a claim. The absolute minimum necessary would be the name of the fund you invested in and the name of the company running it.

If you have that – and without it there’s not much chance of tracking anything down, in all honesty - then you’ll need to approach the industry bodies.

In the case of unit trusts, that means the Investment Management Association, which is the trade body for the asset management industry (an industry they claim is worth some £3100 billion, making it a huge economic force). Although tracing old accounts isn’t really part of their remit, they might well be able to help if you ask them, as they’ll have records on all the funds and companies.

For investment trust you’d need to contact the Association of Investment Companies, which covers the closed-end investment industry, as they describe it. Once again, reuniting investors with their investments isn’t among their main tasks, but they will help where possible.

Making a Claim

After you’ve discovered the current owner of the fund, you’ll need to contact them directly in order to claim your investment.

As a general rule, as long as you can claim ownership, there should be no problem with or delay in your claim. Obviously, the fund managers will hope you’ll remain invested, but the choice will be completely yours.

You might also like...
Share Your Story, Join the Discussion or Seek Advice..
Why not be the first to leave a comment for discussion, ask for advice or share your story...

If you'd like to ask a question one of our experts (workload permitting) or a helpful reader hopefully can help you... We also love comments and interesting stories

Title:
(never shown)
Firstname:
(never shown)
Surname:
(never shown)
Email:
(never shown)
Nickname:
(shown)
Comment:
Validate:
Enter word:
Topics
Latest Comments
  • Matty
    Re: The Facts on Unclaimed Land and Property in the UK
    I found a row of 4 new build houses that have been boarded up and have been empty for at least 4 years…
    4 July 2019
  • Ned
    Re: The Facts on Unclaimed Land and Property in the UK
    Hello I have came across a piece of abandoned land,no buildings is on this land it is fenced all…
    27 June 2019
  • Babs
    Re: Unclaimed Pensions
    My husband worked for a Canadian bank from 1975 to 1978. He was badly brain damaged in a car accident and was never able to work again. We…
    27 June 2019
  • Dick
    Re: How To Claim Back Overpayments on Utility Bills
    I’m a council tenant in Kensington and Chelsea can I get a refund on my water bills ?
    25 June 2019
  • Jin
    Re: Unclaimed Pensions
    My husband paid into a pension scheme at both the pit and steel works. Sadly my husband died before he could find where to claim these…
    13 June 2019
  • Jin
    Re: Unclaimed Pensions
    My husband paid into a pension both at the pit and steel works. Sadly my husband died before he found out where to put a claim in for these…
    13 June 2019
  • Jin
    Re: Unclaimed Pensions
    My husband paid into two work pension both steel works and pit. He's since died before we found who we needed to get in touch with to put a…
    13 June 2019
  • Dave C.
    Re: How To Claim Back Overpayments on Utility Bills
    Since having a water metre fitted the price of water is £19-33.Before the metre was fitted we payed…
    11 June 2019
  • FatRay
    Re: Unclaimed Life Insurance
    Good evening. My name is Raymond Parsons and live at 7 Tapps Lane brixton Plymouth PL82BZ My mother passed away in December 2017 and…
    7 June 2019
  • Millzy
    Re: Unclaimed Life Insurance
    Hi my mum past away after taking care of her with dementia for 12 years.anyway my granny insured all her daughters and sons but mum was…
    6 June 2019